Owens & Minor will move into the top floor of Highwoods One at Nuckols Road. (Photo courtesy Highwoods Properties)
Owens & Minor, the publicly traded healthcare logistics giant that for years was based in Mechanicsville, is relocating its global headquarters to the Innsbrook office park.
The company, which has 20,000 employees worldwide, is leasing roughly 35,000 square feet of the Highwoods One building at 10900 Nuckols Road.
O&M will occupy the entire fourth floor of the 130,000-square-foot building, where it will join other tenants such as Primis Bank.
O&M did not respond to a request for comment by press time. It’s unclear when the company will move to Innsbrook and how many employees will be based there. In May, when the company sold its Hanover building to VDOT for $33 million, the company said it expected to relocate by the end of the year, though at the time it would not identify where it was headed. It had been in the Hanover building since it was built in 2006.
The move marks a notable downsizing in office space for the firm and is another example of the continued trend of some companies slashing their office footprints in the post-pandemic age of hybrid work schedules.
O&M’s previous local office spread included the 160,000-square-foot Hanover building at 9120 Lockwood Blvd. and 90,000 square across four floors in Riverfront Plaza downtown. It shuttered the latter in late 2020.
The company said in May that the Hanover sale and relocation was part of a re-evaluating of its office footprint “in light of new workplace trends and the preferences of our teammates.”
Still, the shift to Innsbrook marks a win for Henrico, giving it yet another Fortune 500 within county limits. The others are Altria, Markel, Genworth Financial and ARKO.
O&M ranked at 388 on this year’s Fortune 500 list thanks to its $10.3 billion in annual revenue in 2023.
Owens & Minor’s Mechanicsville headquarters was built in 2006. (Courtesy Newmark)
The Richmond team from commercial real estate brokerage Newmark represented O&M in its Innsbrook lease and in the sale of its Hanover property. Kristie Inge and Catherine Haywood of Highwoods Properties, which owns the Innsbrook building, handle leasing there.
In other O&M news, the company recently disclosed that it asked its CFO Alexander Bruni to resign effective June 21. The resignation was disclosed in an SEC filing but did not include further detail as to the reason for his departure, other than to say Bruni will “pursue opportunities outside of the company.”
The company’s stock, which trades as OMI, is down 24 percent since Bruni’s resignation was disclosed.
Bruni had been in the role since 2022. He’s due a severance package that includes payments and perks valued at more than $550,000.
The company’s corporate treasurer Jonathan Leon is serving as interim CFO.
Owens & Minor was founded in downtown Richmond in 1882 by G. Gilmer Minor and Otho Owens.
Owens & Minor will move into the top floor of Highwoods One at Nuckols Road. (Photo courtesy Highwoods Properties)
Owens & Minor, the publicly traded healthcare logistics giant that for years was based in Mechanicsville, is relocating its global headquarters to the Innsbrook office park.
The company, which has 20,000 employees worldwide, is leasing roughly 35,000 square feet of the Highwoods One building at 10900 Nuckols Road.
O&M will occupy the entire fourth floor of the 130,000-square-foot building, where it will join other tenants such as Primis Bank.
O&M did not respond to a request for comment by press time. It’s unclear when the company will move to Innsbrook and how many employees will be based there. In May, when the company sold its Hanover building to VDOT for $33 million, the company said it expected to relocate by the end of the year, though at the time it would not identify where it was headed. It had been in the Hanover building since it was built in 2006.
The move marks a notable downsizing in office space for the firm and is another example of the continued trend of some companies slashing their office footprints in the post-pandemic age of hybrid work schedules.
O&M’s previous local office spread included the 160,000-square-foot Hanover building at 9120 Lockwood Blvd. and 90,000 square across four floors in Riverfront Plaza downtown. It shuttered the latter in late 2020.
The company said in May that the Hanover sale and relocation was part of a re-evaluating of its office footprint “in light of new workplace trends and the preferences of our teammates.”
Still, the shift to Innsbrook marks a win for Henrico, giving it yet another Fortune 500 within county limits. The others are Altria, Markel, Genworth Financial and ARKO.
O&M ranked at 388 on this year’s Fortune 500 list thanks to its $10.3 billion in annual revenue in 2023.
Owens & Minor’s Mechanicsville headquarters was built in 2006. (Courtesy Newmark)
The Richmond team from commercial real estate brokerage Newmark represented O&M in its Innsbrook lease and in the sale of its Hanover property. Kristie Inge and Catherine Haywood of Highwoods Properties, which owns the Innsbrook building, handle leasing there.
In other O&M news, the company recently disclosed that it asked its CFO Alexander Bruni to resign effective June 21. The resignation was disclosed in an SEC filing but did not include further detail as to the reason for his departure, other than to say Bruni will “pursue opportunities outside of the company.”
The company’s stock, which trades as OMI, is down 24 percent since Bruni’s resignation was disclosed.
Bruni had been in the role since 2022. He’s due a severance package that includes payments and perks valued at more than $550,000.
The company’s corporate treasurer Jonathan Leon is serving as interim CFO.
Owens & Minor was founded in downtown Richmond in 1882 by G. Gilmer Minor and Otho Owens.
A definite win for Henrico!
Not like Hanover is completely loosing out as it is becoming the central point for many, many state offices. But Hanover might want to watch that tax base.
Is that their old headquarters?